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forward hearing from both men later in the program. as for the deal itself, if you're a new york stock exchange shareholder, mr. spreker built this account the past decade. 36% of the combined company will be controlled by current new york stock exchange shareholders. you get a premium. also an opportunity to participate in the continued growth of what will be a trading ba he months. they trade stocks. energy, interest rates, commodities, agriculture, that's what it's bat. global platform for the trading in so many different asset classes, particularly as it relates to derivatives, putting these two companies together this way. cost synergy is very important. $450 million what they are looking for. say that will take place after the second full year, realizing all of them but almost 80% within two years of closing. that's related to technology savings. clearing duplicate expenses, one public company instead of two save money. there are going to be some job losses one would anticipate here as well. women see how ice shares do today, of course, a growth company, so in growth shareholder
. my partner sue at the new york stock exchange. my partner sue with big interviewes this hour. >> that's right, ty. i spent the afternoon at blackrock's trading room and i got their outlooks for 2013. you will see it first here on cnbc. >>> here are investment take aways. fixed income. they feel there is danger in what many people consider a safe play. commodities, they have a long view there in many of those sectors. equities is kind of a global shorg an board, if you will. but they like the u.s. best. and in currencies, blackrock is all about being a dollar bull. so where specifically are they putting all that money to work in light of fiscal cliff? take a listen to what bla blackrock's robert casid 0 to me. he manages the firm's $3.7 trillion in assets. >> does this mean we good over the fiscal cliff. >> it is a very high likelihood it does or 11:59 on december 31st with a lot of hoopla. but tax rate are going to go up. there is a going to be a conclusion to this. even if it waits until the last minute. even if it is in january, what it is going to mean is slow growth. it may mean t
. thank you for watching "fox & friends first". >> time for the 5@5:00. a queens new york man pleaded guilty to terror charges for plotting to blow up synagogues in new york city. he was raised in 2011 while trying to buy weapons from an under cover cop. he wanted to set off grenades in the biggest synagogue to send a message of intimidation to a jewish community. >> the country's top intelligence officer will be in the hot seat on capitol hill. he will testify behind closed doors on the benghazi terror attacks. they are left with many questions about who changed the cia talking point which originally represents al qaeda. the revised talking points were used by susan rice who blamed the terror attack on an anti islam video. >> we will see who president obama will nominate for his cabinet. national security nominees are expected to be nominated first. hagel could get the nod for defense secretary. who will replace hillary clinton as secretary of state? lawmakers outraged over reports it could be ambassador susan rice. john kerry also a possibility. >> kate middleton spending her third
dropping to its three month low. very mild. looking at behind me in new york. what are we missing as a play, an investment like? are we in that very land and? >> we've been calling for lower natural gas. most of the profit is best. the sale at 380-385. right now it's an oversold market. 327 is the low. we hit it today anywhere between 327 and 330 i'm buying. and on the upside 342-345. i don't think we will see it again this year. liz: never again. >> okay. never again. liz: the collective commodities, the dollar, what the fed did. that seems like a million dollars to 5 million miles away. but in these next two weeks from a trader perspective. people just at the way or are they fully in because we don't have an answer? >> there will not be fully in. what we have right now, an argument between deflation and inflation. the numbers coming through, especially today. the fed is pumping action of billions of dollars in the market every month. the same time they're staying low or longer or slower longer which is an inflationary message . liz: again, people still look at that as a safety play, and i
school is the highest paid in the country. that is right here in new york city at more than $3 million. >>> national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting. it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> wel
about what you put into your gas tank. let's get up to speed, back the floor of the new york stock exchange and nicole petallides. economic data on the service industry. nicole: looking good, lori and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure, nowhere near $700 for the all-time high in september. the latest findings other actually going to use the market share for the ipad to the android in some microsoft folks, they're facing intense competition. with the findings you see stocks down 4%. back to you. melissa: interesting. lori: thank you. melissa: a battle for a deal inn the fiscal cliff continues, democrats cannot seem to find a compromise on top earners. rich edson is back in the white house with more. >> president obama said look, if rep
. let's go to the floor of the new york stock exchange. the market having a good day today. nicole: indeed. we have been over the 13,300 mark but still holding onto stellar games, lori and melissa. so up triple digits up 110 points so really is a nice showing. 28 of the 30 dow components in the green. we heard from house speaker john boehner. the overall sentiment after he spoke is a few negative pieces of language in his speech that ultimately in the end he was trying to say they're trying to work it out. smooth it over, ultimately. they know a couple of trends we are seeing, technology, materiall, two areas coming under pressure recently starting to turn. europe seeing improvement helping equities along as well. lori: not sure if you mentioned the fed. we were talking about it at the top. talking about their expectations of ben bernanke. nicole: would even throw out the idea of stimulus? that helped things along pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn
of agriculture decision to cut the greens demand forecast. fact activity in new york state declining for the fifth month in a row in december as new orders dropped in the labor market remains weak. the new york fed empire state index falling into negative 8.1 from negative 5.2 in november. liz: we have larry in the pits of the chicago mercantile exchange. he will let us know about the clothes. the fiscal deal is coming. they will find out in a second, and says the market is heavily discounted and at historic levels. should you jump in? a 100-point gain on the dow jones industrial a full percentage point for the russell and the s&p and the nasdaq rather. this is a great day, isn't it? >> a good day, that is for sure. kind of took an informal poll on the floor ask a few traders are we going to reach the fiscal cliff, are we going over it? certainly most traders were not in agreement. everyone is in agreement we're not going to go over the fiscal cliff. liz: the highest of the session of the last hours of trading, what does that tell us about the next couple of days? >> traders have con
page of the business section in "the new york times," front page of the "wall street journal," blowing it out of proportion? >> our last report had something like 100 million users of instagram. anything that affects instagram touches a lot of people. it is still very popular. sure there is some loss of users near term after they detach themselves from twitter, but ultimately this is a business. investors should be focused on the fact facebook is trying to find ways to monetize, but they are smart, they will not jeopardize the user experience, they're better than that. they know if users have a problem with something, they will fix that. they have done these things in the past. user policies have evolved over time and will continue to evolve. important thing is they reacted very quickly, they did not wait for a week or 10 days for this to get a life of its own. it's still good, but ultimately one thing that caught my attention was the response that they will not be selling photos. their intention is if you are a business and you want to be able to use some of the data from instagram, w
for the new york giants. top pick. he set an all-time record . 52-twen was the final. go to ben roethlisberger, coming off of injury. big catch. mike wallace no realationn to chris. the chargers go on to win 34-24. that's what happened with the sports. big upset with the vikings and home of the bears. >> steve:-> chris wallace did you watch his power player, his dog. what a moving tribute. winston. what a life that had . a hole in their heart now he passed. >> gretchen: sorry i missed it. on a lighter note. what do airline workers think about the rest of us . have you ever done this to a flight attendant. apparently they do that when they want the flight attendant's attention. that is hated happen when people fly and are rude. 92 they looked and talked to 700 airline employees in 85 country, hey, i could use a coke over here . people trying to get off of the plane before the pilot gives the okay . stuffing too much in the overhead and charging to checked bags. you can understand it. on both sides of the aisle. >> brian: what bothers me, people ame as i am waiting in the back in the head. reall
really to blame? a new survey says no. stocks a little bit higher. as coach before the new york stock exchange and check in with nicole watching apple after cher started to downgrade today. nicole: that is right. apple sold off, in the red and move higher. they have a buy rating, jefferies cut the price target on apple. the new price target is $800 from $900. they came down $100 but certainly plenty of upside potential. right now apple at $5.29 and change. some nice room to grow. talking about the pressure on margins apple faces obviously intense competition but also the fact they will be launching a new iphone app coming along, all the thing these things we'rg about for next year and those to make it into their margins to alternately that is whether lord their price target. mcdonald's, same-store sales moved higher and beat the analyst expectations of 2.4%, that obviously outpaced october which is a losing month, first losing month in nine years for mcdonald's, but they're doing well for breakfast and in europe. lori: thank you as always. melissa: president obama had to try to seekin
in the hospital since last metropolitan. >>> the former new york city mayor ed koch after being real l released from the hospital. he was treated for pneumonia and flu since last week. he told supporters he planned to stop by his office and read at home. the former mayor celebrates his 88th birthday on wednesday. i'm shepard smith. this is the fox report. >>> it's the bottom of the hour, time for the top of the news and north korea. the north koreans say they have to delay their latest rocket launch because of what one official calls technical problems. really. the north koreans originally gave themselves a two-week launch window starting today. now they say they're extending that window by another week. analysts say the north's last rocket launch attempt in april was very much a dud. one expert says this launch is a success or if it is, it would mean the north could be two to three years away from having a missile that could hit the united states. doug mcelway on the top stories and live tonight from washington. i guess that's why world leaders are keeping such a close eye on this launch. >> r
package for victims of super storm sandy. and now more than 125 leading ceos in new york urging lawmakers to approve this thing. among them, top executives from time warner, bloomberg, morgan stanley and the nba. joining governors from new york, new jersey, and connecticut asking congress to get it done before they break for the holidays. they say it's already taken congress too long to act in the aftermath in the disaster. president george h.w. bush should be able to celebrate christmas at home with his family. mr. bush, who is 88 years old, has spent nearly three weeks in the hospital in texas where doctors have been treating him for a cough related to bronchitis. a hospital spokesperson saying our nation's 41st president is improving and doctors do expect him to be able to it go home by the holiday. the syrian government's biggest ally now admitting the civil war raging there may well doom the regime. hear how u.s. officials are responding. and as the investigation continues into the plane crash that killed pop star jenny rivera there is word tonight two police officers are under arres
-- dagen: this is the 24th state. >> it will never happen in new york or a place like new jersey. they do not have the legislatures that will pass this. let's be realistic about it. all you have to do is look at a map of america and you would understand that. there are limits as to how far it will spread. we have a really historic battle among the states. it is a battle over tax rates. for all of this talk about tax increases, you have places like kansas, wisconsin, louisiana, cutting taxes. because business investment is so stingy right now, this battle is really historic. i think we will see more winners in the states. dagen: right to work states over the last decade have grown faster. >> it is and important component. it will be more so, i think, going forward. the combination, state tax rates in federal tax rates, they are really getting onerous. connell: as peter barnes pointed out, how involved, or will he get involved in this at all going forward? >> well, your guess is as good as mine. here is the thing, you know, of all places that you can go in america, discussing the fiscal cli
on the cliff. our very own lou dobbs is not buying it. adam: our very own nicole petallides is on the new york stock exchange. where do we stand right now. right now the dow jones industrials are down nearly 60 points. the nasdaq composite is down three quarters of 1%. not a great day here. there are concerns about the fiscal cliff. we just have the deadline timeclock up again. we know that we have very accommodative fed's. let's take a look at some european markets. finance ministers have been discussing things including giving them more power. these are some of the things that they are looking at closely. we had seen europe really pushing some new recent highs. that is something that pushed us along in the last couple days. lori: a showdown in washington. sparring over a dead deal. it does not look like either party is ready to budge. where are we now, rich we are still in the middle of a work in progress. that could be a little bit of an understatement. democrats say they want a commitment from her republicans. basically, we are in the same spot. here we are at the 11th hour and the preside
equipment? >> it has everything you would like to have. you could not go to new york and park it and do your business shopping because it goes 40 miles per hour. lori: that is not too shabby. that is actually pretty fast. 13% net profit in the third quarter. what are you forecasting for the duration of the year? >> this is a difficult question to answer. the guidance, about 10 billion topline and 520 and earnings per share. i think that is where we will be, hopefully a little better. i am pretty optimistic for 2013. lori: farming equipment is not my expertise. this is a wonderful segment. thank you very much. really wonderful to meet you this afternoon. thank you. >> thank you. lori: "the closing bell" ringing in about 40 minutes. who will replace timothy geithner? the president may have his mind made up already. charlie gasparino has the latest. stay with us. ♪ lori: quick market check for you, stocks drifting lower into the close, we're close to session lows. the dow is down 53 points. >>> has president obama already made up his mind on who will replace treasury secretary timothy geithne
for the amtrak program that's never been done. what is going on here? the people in new york who are still suffering need direct assistance. none of this is direct assistance. >> hello, larry. of course what's going on is business as usual here in washington. listen, i think there's bipartisan support to realize that this is emergency. we want to get money flowing to the people that need it. but let's get some information. let's not create a christmas tree here and load it up with all kinds of different ornaments. let's take a look at what the true need is, short term and then longer term. and let's do this in a measured fashion. so from my standpoint, i think it makes an awful lot of sense. we've got nine months left till fiscal year 2013. that's kind of the line of demarcation. we should be looking at what needs to be appropriated for the rest of fiscal year 2013. and then, you know, how about we pass a budget for fiscal year 2014 where we can consider the rest of the spending in a proper format where we're actually getting the information on how this thing really should be spent. >> i'm
taken to danbury hospital. our new york police reported one child may have been shot in hand. another in the face. the gunman is reportedly dead. officials telling the ap the shooter had two guns. we are looking at live pictures from our affiliate in new york, w. n.y. w. a gunman was in the main office of the school shortly after 9:40 a.m. eastern time and one person in one room had numerous gunshot wounds. investigators now searching the school with police dogs. dozens of heavily armed state troopers on scene. live pictures telling it all right there. surrounding the school, agents on scene as well, we're learning a code red has been issued to the surrounding towns. state police will news conference at 1:00 eastern, we will bring you those updates as they come. this is an unfortunate story that has continued to unfold. more details coming in by the minute and we will keep you updated. dennis: college for $199 a month. that is what university now is charging for unlimited online classes. we are joined by ceo jean wage. thank you for being with us. let's start with how many students ha
of the new york stock exchange. nicole: it really is a time to shop. let's take a look at the major market averages. the tech heavy nasdaq is squeezing out some games. it is up about five points. some other traders talking talking about the fact that yesterday they got a lot of monetary policy. then they start to get economic news of things the a little bit better. they have to digest each piece of economic news. there is a look at the dow. 13,237. it is down about eight points. let's talk about best buys. from 1956, that is when he founded best buy. he is moving ahead. it could be by the end of the week. it is up 15.5%. connell: a news alert from washington. you will see it here live from d.c. as we wait for the speaker, we will hear from a guy who says >> whatever god deal is signed, there will be a lot of pressure. boehner will have to cut a deal that raises taxes. their idea of fiscal conservatism, for two decades, has only been about taxes. meanwhile, under current sentiment, underneath him, why don't you finally go after spending. those tea party people will be completely hostile to
's and dwayne reed's in new york are things of beauty and among my favorite places to shop and those who watch "squawk on the street" know i like to shop. i go to my dwayne reed's twice a week and the store manager tom does a great job. my inclination is this is a buy on any weakness and if it weren't for the gigantic acquisition i would say don't wait for the weakness. it's got a bright future ahead of it. beyond earnings monday the empire state manufacturing report from new york. in full-blown weak data mode want to see if business is rolling over. so the empire manufacturing number will set the tone for the rest of the day for things that ge doesn't cover. the fed told us businesses are ratcheting down spending. this is what we could hear. here's the bottom line. it's time to get used to the idea that we're going over the fiscal cliff. ready yourself to take a big hit in a couple weeks. but don't forget that individual companies still matter. if you really like one of these companies, i'm going to suggest buy half and then wait to see if we go over the cliff and buy the rest. let's go to te
-kahn has settled a civil suit filed by a new york city hotel maid accuwho accused him various items. criminal charges against him were dropped. >>> the state of hawaii is no longer 50th in voter turnout. it's tied for 49th with west virginia. this time around, they've got company at the bottom. both west virginia and hawaii tenned out 44.2% of its voters in 2012. >>> the duke of cambridge decided to cancel a scheduled appearance at a military event to be with his pregnant wife. katherine has been battling acute morning sickness. they are supposeded to attend the royal premiere of "the hobbit" tomorrow but the daily mail says katherine may not be well enough to go. >> if he skips the hobbit for her, that is true love. i'll be impressed. >> thank you. 17 minutes past the hour. time for early reads, local news making national headlines. we're starting with the charlotte news and observer in north carolina where a federal judge ruled the state cannot issue choose life license plates without offering ones with different view points. he called it viewpoint discrimination and violation of
minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is one of those markets with a lot of anticipation. every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the two-day chart. with the fiscal cliff fast approaching, naturally it's about time lawmakers took a long recess. >> they're gone today, but will be back tuesday. it meets with small businesses in their district, they will highlight what they say i see ae small business tax hike president obama is
him. >> thank you, david. david: many folks in new york and new jersey, still, still can not go back to homes and businesses. so why is the sandy spending bill send lots of money to d.c.? a look what is in the $60 billion bill for hurricane sandy. liz: money to d.c. but it hit new jersey and new york. come on people. david: there you go. liz: how is this for an alternative investment? the judy garland show. rights to all the episodes. 26 are up for auctions online. how much are they expected to fetch? what is the earning potential here? we've got the man selling them. do you want in? remember what it did for elvis >> just about 42 after the hour. i'm arthel neville. this is update on breaking news story out of newtown, connecticut, where 26 people including 20 children are dead in one of the worst mass murders in our nation's history. president obama deliver ad statement last hour saying the u.s. has been through shootings like this too many times and meaningful action will have to be taken regardless of politics. the president also ordered the u.s. flag be flown at half-staff at all
daylight, on a crowded new york sidewalk, someone walks up to a man and shoots him, point blank range. today, a race for answers. i'm brooke baldwin. the news is now. >>> move over, america. a sobering new report suggests china is getting ready to surpass the u.s. economy. >>> plus -- >> this is the place where lisa was buried. >> cnn goes inside the search for da vinci's famous muse. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your local mercedes-benz dealer. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations thr
. it is back to the floor of the new york stock exchange. nicole petallides, you know, we've got the fiscal cliff negotiations and big jobs numbers due out toward the end of the week, nicole. i wonder if investors are in kind of a wait and see mode here? >> absolutely. the jobs number is at the end of the week, right? is arguably the most important economic indicator. a lot of folks are very concerned about the economy with very moderate growth that we've seen at best. unemployment still remains really very high and so that is something that still sits on the minds of investors. i wanted to also talk about the fiscal cliff and how a lot of companies are speeding up those dividend payouts like oracle and carnival cruise and weight watchers and ethan allen just to name a few. it is easily over 110 companies have done just exactly that, accelerated the dividend payouts to be at the end of the december rather than early january. in which case you might be more susceptible to higher tax rate. these are some of the names. coach. diner shoe warehouse and larry ellison with his company. oracle's el
'm melissa lee live from the new york stock exchange. negative across the board, looks like we're going to lose about 8.5% on the dow. we're watching for headlines out of an ecd press report. our road map this morning starting with apple, cratering on its biggest decline yesterday on four years, closing just pennies off the lows of the session. the stock continues lower premarket as investors watch the death cross watch. >> a cnbc exclusive, tim geithner says over the cliff is a must. >> bank of england and ecb keeps rates unchanged. europe continues to hang in there economically. >> and nat gas gets a boost. the government finds exporting it is better than keeping it here at home. >> apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. the one day loss erased nearly $35 billion in market cap. that chunk is bigger than 400 other s&p 500 companies. apple ceo tim cook talked to nbc's brian williams in our rock center exclusive. >> why can't you be a made in america company? >> you know, th
: breaking news on dupont, back to nicole on the floor of the new york stock exchange. >> breaking news that's pushing the stock up 3% after hours. this is where it closed today at 4 p.m.. this is dupon here. closing up 1% at 43.69, but as i noted, moving up in the after hours. unvailing a $1 billion share buyback, also giving us guidance here going into 2013, and talking about growth and this is looking good here, folks, and this is why we are seeing this dow component, this chemical maker, liz and dave, moveing to the upside dramatically. it's breaking news, and as we noted, announcing a share buy back of the company stock, something that they talk about, the fourth quarter performance, expected at the high end of the previous guidance. this is basically saying dupont saying, we're doing great, giving nice numbers here, and as a result, the stock's jumping. back to you. liz: thank you, nicole, very much. david: s&p futures closing now, back to lair at the cme. what do you think? >> what i sense is an interesting fact behind me, closing exactly where we were right before the election, and w
going to open $9 lower than yesterday. and nicole is on the floor of the new york stock exchange, and tell me, is anybody down there talking about apple at this price as a buying opportunity? >> 100%, everybody is talking about apple. when i'm talking to traders what they're seeing with apple when i talk to mark newton, and he says the momentum is lower and next couple of days, two, three days probably lower, but then that's a buying opportunity. what what he said. he saw it as a buying opportunity. the highs were above $700 in september. stuart: yeah, september the 21st at 7:05. this morning, pre-market 520 now, down another $9 from yesterday's close. we'll have you back at opening bell. thank you very much. remember this controversial video we showed it to you yesterday from the california teachers union. it's a cartoon about the tax the rich debate and shows a rich person urinating on poor people, unbelievable. ed asner did the voice for it and he doesn't seem remorseful. watch this. >> remember the video? >> i don't remember a thing i said on t or a word i said on it. i agre
an apartment, it was not that valuable. >> it's not practical for a new york city dweller, for instance. >> when you get houses, you see the mexican properties? i'm saying they're going up there. >> oh, really? >> yeah. if anybody wants one. >> available for weekend rental. >> semiautomatic weapon included. >> somebody stole it from me, he thought i was going to stop there, and let hem get away with it, and that's not really my style. >> would you kidnap jim cramer, david? i'm not sure. >> no. >> it would end there. >> it never ends. >> if the guy had done nothing, i would have said fib. but i found him -- no one has seen "taken 2." >> how could you not? what a great franchise. >> i know. >> she's been taken. >> really bad luck. >> when we come back, apple tv, microsoft surface tablets, we'll bring you the latest development regarding both of those. more from the deal book conference in manhattan, including an exclusive with lloyd feinstein. 11:00 a.m. eastern time. hanging on to gains. at the nyse, when we return. can i help you? i heard you guys can ship ground for less than the ups s
, and for a 30-day free trial, go to axiron.com. >> shepard: big break here in new york city where police say they've found the car that a killer used to make his escape after shooting a man in the head. that shooting happened broad daylight monday afternoon right near central park in carnegie hall. police say surveillance video shows the gunman getting out of his car to wait for his target, a man named brandon wood d has rd. he was visiting from los angeles and minutes later, the killer walked right up to the man on the right here, and put a bullet in his head. police say they don't yet know the motive for this murder. while they located the get away car across the river in queens, the killer is still on the loose. >>> most americans say our leaders will keep us from falling off the fiscal cliff 20 days from now. that's according to a news pal. 51% say president obama and congress will cut a deal to prevent automatic tax hikes and spending cuts. john boehner says he still has serious differences with the president after they exchanged new counteroffers apparently and talked on the phone last
steve israel, congressman from new york. plus, we'll also be talking more about what's at stake in washington and how the fiscal cliff is likely to effect investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the s
'm bill griffith. welcome to "closing bell." maria will be along here in a few minutes at the new york stock exchange, and we add our sentiments as we continue to update you on the horrific massacre at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to make a statement on this tragedy from the white house around 3:15 eastern. our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and all the issues that we've been discussing for some time now, but one of the jobs of a president is to console victims and to console the nation at a time of grief of this magnitude, so we're going to hear fr
'm maria bartiromo at the new york stock exchange. scott, good to see you. here with scott wapner. the market near the lows on the day on fears that a deal to avoid the fiscal cliff may actually be a lot further away than we thought. >> more sparring today. deal, i don't know. if you listen to what they are saying today, scott wapner in for bill griffith. the president calling for compromise in a news conference today, but here on wall street there is a bit less optimism for the deal than we've felt in recent days. see where we sit right now. the dow is down 56 points. nasdaq and s&p under some pressure as well right now as we -- there you go. nasdaq is down six and the s&p, maria, selling off as well. >> mr. jobs, more jabs being exchanged on capitol hill today. what was supposed to be a presidential press conference on gun control quickly transformed into a discussion about the fiscal cliff. with the majority of questions focusing on the issue. washington correspondent john harwood at the white house right now. john, perhaps no one has followed the twists and turns as much as yo
. tonight we will hear from outspoken tv host piers morgan and former new york mayor rudolph giuliani. "the kudlow report" begins right now. >>> first up, the latest on the vote of plan b. the plan b bill sponsored by john boehner that may decide how deep into january they have to go for a solution. may decide the fate of the economy and the stock market and decide the fate of jaohn boehne and ultimate lif the second term agenda of president obama. john harwood joins us now live with all the details. good evening, john. >> reporter: good evening, larry. you know, the house has now passed on a party line vote, zero democrats in favor, about 20 republicans defecting the spending cut portion of john boehner's plan b. it would cut about $200 billion in spending, overt the automatic sequester cuts to defense programs that republicans have been opposed to. now, the debate bef bthe passage of that spending cut bill, and we still have yet to see the passage of the tax increase bill, which is gotten resistance from conservatives, that was an opportunity for both parties to frame the stakes, and eric
] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> imagine going from new york to key west in just eight hours in the lounging comfort of that big sleek train. you could do it, if you lived in china. once again, america's proof we are falling behind in infrastructure. thanks for watching "street signs." i'll send it to "closing bell." >> and hello again, everybody. welcome to the "closing bell." i'm mandy drury sitting in for maria bartiromo. happy boxing day as well. >> christmas is over but mandy has been celebrating boxing day all day. we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. t
. paul krugerman has said liberal firebrand in the "new york times" said it's a horrible idea. terrible, stupid idea and this is not something that the white house should consider at all. >> let's bring back the rest of the panel. ceo of pimco, and mark zandy a is a chief economist with moody's analytics. mark, when you say we're the cleanest dirty shirts, i wonder when it comes to negotiations we are there are republicans who will not accept taxing the marginal income. the income above $1 million and increasing that tax on the rich and you've got some democrats who won't agree to this idea of a chained cpi. bottom line mohammed, there are going to have to be tough decisions, you cannot win budget concessions without tough decisions. when you guys are looking at how the united states solves its problems, what are the obvious ways? >> the obvious way is to get together and recognize that you can only solve a long-term debt issues in the context of high growth. you approach the fiscal problem in a way that makes sure that you also promote economic growth. so that has two implications. one
like new york, like london has, have congestion pricing so it's not a free good. make people who use the car pay for it and tilt the balance of our infrastructure funding using some of those funds to rebuild our public transit infrastructure. as you know, i've traveled into new york all the time and travel into canada all the time. my wife always reminds me to difference of traveling into pearson airport versus the new york, our greatest city in the world, airports. we've got to put a little more money. we know airplanes according to a whole range of recent studies are big economic generators. act on the same plane as our high-tech industry clusters. we need to rebuild our airports, invest in our public transit as well as keeping our roads going. but let's pay for the roads. >> ken, i see you nodding. do you think there are some things that rank higher than other things or should this be done as a portfolio, that there are a lot of things that need to be fixed? richard made a reference to the $2 trillion number to get our infrastructure on a national level up to a reliable point. >>
never failed to get their money. but they're trying to put in a -- according to "the new york times," at least, a deposit guarantee system as well for the banking system. >> sounds like all systems go there. >> we'll see if this continues next week. meantime, we'll talk apple debuting the iphone 5 in china today. the iphone news isn't preventing apple shares from falling in the market. cutting the price target to $700 from $780. he does maintain a buy rating and said apple needs to expand more geographically. it's not dead, it's not -- but it needs to find ways to innovate its products. we sort of saw this coming. steve had a caution note on apple a few weeks ago which stalled the stocks. not entirely a surprise. he is obviously a well respected analyst on the street. >> when you have a price target that is well above the stock, there's tremendous pressure for you to cut the price target. like there was tremendous pressure to raise the price target. i want to warn people, there are people who have much higher price targets. the analysts will probably join the fray. not sit in the bu
in with nicole on the floor of the new york stock exchange. wall street optimistic for fiscal cliff deal? nicole: that is right, as a deal gets closer and closer, the sentiment is it gets done at least partially in some way shape or form. talking to the traders, that is what they say the market is telling you. positive results out of washington have been priced into this market. the dow jones industrials dropped nearly 1%. the nasdaq up 1.4%. a look at the dow jones intraday with a majority of the dow components all into the green, names like bank of america leading the way, oil services all doing well, and talking with equity partners and said why does it pop right now if they think the fiscal cliff talks come to fruition. he said people are chasing. some people taking short-term profits, but altman o alternatee are still believers in a santa claus rally and the fact washington will get it right. melissa: nicole, thank you very much. proposals to avert the fiscal cliff coming fast and furious right now. we want to get you up to speed on where every proposal stands. for the first time the presid
standing by at the new york stock exchange. nicole: i am looking at avon products. you may remember coty which made a bid and then made a sweetened offer and avon rejected it. now it is up 5%. it is a top performer on the s&p 500. alpha is now reporting that coty may step in again. this was back in may when they raised their bid to 24.75. it sounds pretty good when you are trading at $14. we will see what actually transpires. right now, we may be seeing coty stepping in once again. cheryl: nicole petallides, thank you very much. should the u.s. start exporting natural gas? with the benefits the overall worth it? liz claman talk to a man at the forefront of this. andrew liveris. liz: let's go all in. the report makes a bold prediction. it will boost the u.s. economy $547 billion in just seven years and create jobs, which, of course, we desperately need. >> one report does not make a plan. it is fundamentally flawed. $90 billion at $3 million actually 20 times value that would be under threat if they went ahead and took the recommendations of this report. it ignores the manufacturing secto
of people who feel like doug cast does who writes with me with a piece in "the new york times" saying that -- >> most stuff is nontaxable accounts any way. most stocks that people won't be as motivated to sell as people think. of course that doesn't necessarily deal with the increase in payroll taxes and the whole recession side of it. it does deal with the stock market side in terms of selling. >> why not say, listen, fiscal cliff, i have to cut numbers. i have to cut guidance. i think many ceos will cut guidance because of the possibility that the amt is going to -- this alternative minimum tax, people don't know they have to write a check for $3,500 at the end of the year. once you jump over the cliff, you can reverse the payroll tax. senator corker who is terrific and had good privilege of talking with him this weekend, we both know you can't reverse amt. once you go over the cliff, amt is insidious. it's hard to figure out. >> in terms of negotiations we will sit here day after day, is it more theatrics, are they really stalled, will we get down to something at the end of the day
. welcome to "squawk on the street." we're here at the new york stock exchange. let's get a check on how we're setting up for the first trading session of the week. we certainly have a lot to chew on over the weekend with the sunday talk shows, focusing on the fiscal cliff. it looks like we're looking at a lower open for the dow. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global
he represented new york's 20th congressional district. now he is in the 19th district. never mind that he still represents just about half of his former constituents. still, that is pretty tough reasoning. to rare win once parts a diplomatic crisis hours before the u.n. general assembly voted to upgrade palestine status to nonmember observer. the official u.n. twitter account released this week on day of solidarity with palestinians stresses urgency reaching one state solution. they just missed it by one member. the un secretary general, of course, supports aid to state solution. they did corrected. student loans may be the next financial bubble. that new york federal reserve bank, risen to $956 billion or more than 4% increase, not only that, the 90 day delinquency rate has risen to 11%. if you need help getting into the christmas spirit this might help you. a missouri businessman is posing as a secret santa giving away $100,000 in hundred dollar bills to hurricane sandy survivors. this generosity is matched only by his humility. he insists on remaining anonymous and not being ph
financial bubble. that new york federal reserve bank, risen to $956 billion or more than 4% increase, not only that, the 90 day delinquency rate has risen to 11%. if you need help getting into the christmas spirit this might help you. a missouri businessman is posing as a secret santa giving away $100,000 in hundred dollar bills to hurricane sandy survivors. this generosity is matched only by his humility. he insists on remaining anonymous and not being photographed all. here is a clue. he and his security entourage have been spotted with red caps watch with the word. [indiscernible] we all love hundred dollar bills, but not everyone feels the same way about the dollar bill. a new report arguing we should get rid of the dollar bill and replace it with a heavier, but longer lasting dollar coin. why? they say because doing so would save us about $146 million per year. if we want to wage a war on currency, maybe they should think about getting rid of the penny. by some estimates it would save the $60 million per year. it costs to and a half cents to make every penny. now, that is a gove
with the same sort of problem in new york city . listen to how he handled it >> i was given a report that said you have to raise taxes and said nothing about reducing spending. i was not an economic expert. i became one after becoming mayor in new york. i said it makes no sense. if i raises tax now. i will have to do it in two or four years. i will try to do something different. lower taxings. i in the beginning but a little bit and two or three years lower taxings. we had a three billion surplus and unemployment dropped from 10.5 to six percent . the city was humming. bowles is rightt, this is a spending problem. >> steve: absolutely. the thing is if washington simply when we send our taxings. if they sent it wisely it would be one thing. but you hear about so much waste and stuff going by the side . they want more taxes. you think they will those efficiently? of course not. >> gretchen: you want to know the newest powerball winner. why his financial advisors are telling him to take the money and ruin now before the fiscal cliff. >> brian: millions of dollars in a green company only to sell i
gallagher has more on that. >> reporter: it's a cash cow for new york city. $293 million in the past five years alone. the reason new york is being sued is the drivers think the i is rigging them. federal law says the yellow lights at intersections where the speed olympic is 30-mile-an-hour has to be at least 3 seconds long. trim a seth sent out to engineers. they checked out a dozen lights and found all of the yellow lights were too short. some of them up to a half second short. that half second resulting in tens of thousands of extra tickets. the new york department of transportation says there has been no substantiation that any red light cameras were improperly timed. triple aaa acknowledges their mini study is not enought to support this lawsuit but says there is nothing to support the city's claim that cameras save time. too short yellow lights guarantee lots of citations will be issues but does nothing to improve safety. there are 540 communities in this country that use these cameras. the highest fines right here in california, $480. and most of them are not running the red light.
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